Business and City Summary

Click to follow
The Independent Online

Pehr Gyllenhammar, chairman of Volvo, and Soren Gyll, managing director, are flying to France to discuss the merger agreement with Renault early this week, the French daily Le Figaro said.

The paper said on Saturday the two hoped to obtain assurances for Volvo shareholders, who are unhappy with the merger terms between the Swedish and French car makers.


The new chairman of France's state-owned Credit Lyonnais, Jean Peyrelevade, said he hoped the loss-making bank would break even next year. It reported a net attributable loss of Fr1.05bn ( pounds 121m) in first-half 1993 after a profit of Fr119m a year earlier.


United Airlines union members, whose bid to purchase a majority stake in parent UAL Corp was rejected late on Friday, have vowed to fight a possible reorganisation.


Canada will press Pacific Rim nations to agree to work towards the creation of a free-trade zone at an economic summit in Seattle next week, Canada's Trade Minister Roy MacLaren said.


Philips of the Netherlands is to set up a joint venture in Shanghai to produce energy-saving lighting, Xinhua news agency said.


The QMH Shareholders Action Group urged Queens Moat Houses investors to withhold proxy votes in favour of the board's proposals for the troubled hotels group.

TODAY: 15.11.93

The Chancellor, Kenneth Clarke, addresses the Confederation of British Industry conference at Harrogate.

Interims: Baring Stratton Inv Trust, British Airways, British Steel, Critchley Gp, Cullen's Hldgs, De La Rue, EID Parry (India), Sidlaw Gp, Vibroplant.

Finals: Fenner, Ferraris Gp, Tadpole Technology, Telegraph (Q3).

TOMORROW: 16.11.93

Public sector borrowing requirement (Oct), acquisitions and mergers within the UK (Q3).

Interims: BAA, Capital House Int Growth Fund, CML Microsystems, European Motor Hldgs, FKI, Kembrey, Marshalls, SW Wood Gp.

Finals: BOC Gp, General Accident (Q3), River & Merc American (3rd interim div), Sedgwick (Q3), Tepnel Diagnostics, VTR.

WEDNESDAY: 17.11.93

Retail price index, retail sales, financial statistics (all Oct), capital expenditure.

Interims: Courtaulds, Electrolux, Essex Water, Foreign & Colonial German Inv Trust, Jarvis Porter, Land Securities, Meyer Int, Portsmouth & Sunderland, Regalian Properties, Suffolk Water, Volex Gp, Vosper Thornycroft Hldgs, Young & Co's Brewery.

Finals: Commercial Union (Q3), Thomson Corp (Q3).

THURSDAY: 18.11.93

Leading British banking groups' monthly statement (Oct), provisional estimates of monetary aggregates (Oct), building societies' monthly figures (Oct), Labour market statistics.

Interims: Brockhampton Hldgs, Cable & Wireless, Chester Waterworks, Grampian TV, Hardy Oil & Gas, CE Heath, Hogg Robinson Gp, Thomas Locker, Martin Currie Euro, Merchant Retail Gp, RPH Gp, Arthur Shaw & Co, 600 Gp, Storehouse, Whitbread, York Waterworks.

Finals: British Gas (Q3), National Australia Bank, River & Merc Trust (3rd int. div), Volvo (Q3), Westpac Banking Corp.

FRIDAY: 19.11.93

Balance of trade with countries outside EU (Oct), UK output, income, and expenditure (Q3).

Interims: Black Arrow Gp, Czech & Slovak Inv, MMI.

Finals: Foreign & Colonial Euro.